Published 17:16 IST, February 1st 2025
'Systematic Correction, Not Just a Tax Cut': Shark Tank's Anupam Mittal on Zero Tax on Income Upto ₹12 Lakh in Budget 2025
Entrepreneur Anupam Mittal welcomed the budget announcement of no tax deduction till Rs 12 lakh income. He called it a systematic correction.

New Delhi: Welcoming the budget announcement related to tax exemption for individuals earning income up to Rs 12 lakh, Shaadi.com founder and famed Indian entrepreneur Anupam Mittal said that these are not just mere tax cuts but a “systemic correction”.
The Shark Tank judge said that for years, middle-class professionals had been India’s punching bag, but this Union Budget arrived with a big shift.
‘Systematic Correction’
In a post on LinkedIn, Anupam Mittal said, “For years, middle-class professionals have been India’s punching bag. Taxed at every turn, squeezed for every rupee, while the ultra-rich found loopholes and businesses got tax breaks. Every Budget, same story- Hope builds up. Expectations rise. Then—another “Sorry, no relief for you.” But Budget 2025 has come with a big shift.”
“No income tax up to Rs 12.75 lakh under the New Tax Regime. I call this a systemic correction, not just a tax cut,” he added.
Anupam Mittal Pitches For Economic Strengthening of Middle Classes
Sharing examples of how America and China are boosting the income capacity of the middle classes, Mittal said, “History tells us strong economies are built on thriving middle classes, not overburdened ones. Post-WWII America bet on its working class. Boom in manufacturing, housing, and consumer spending. China in the 2000s focused on the middle class. Higher incomes, rapid economic expansion, massive global influence.”
He went on to say that the middle class in India was getting squeezed, especially the salaried class.
“India? For years, we got it backward. Instead of fueling spending and investment, we kept squeezing our most productive taxpayers—the salaried class,” Mittal said.
Anupam Mittal said that the economy is built by making people wealthier.
“You don’t build an economy by making people feel gareeb (poor). You build it by making them wealthier,” the Shark Tank judge emphasized.
No Income Tax Up To Rs 12 Lakh
Finance Minister Sitharaman, during her Union Budget 2025 speech, announced that no income tax will be payable on income up to Rs 12 lakh. The limit would be Rs 12.75 lakh rupees for salaried taxpayers counting Rs 75,000 of the standard deduction.
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Updated 17:16 IST, February 1st 2025